In 2012, Management of Simolin Company Changed from Straight-Line to Double-Declining

question 63

Essay

In 2012, management of Simolin Company changed from straight-line to double-declining balance depreciation. The total difference in depreciation for all years through 2012 was $54,000 and for 2013 the difference was $6,200. The tax rate is 30%. Calculate the amount by which retained earnings at the start of 2013 should be adjusted.

Recognize the implications of using traditional notions of race to infer genetic differences.

Understand the ethical considerations surrounding reproductive rights and the autonomy of individuals.

Understand the concept and theory of cognitive dissonance.

Identify and explain different persuasion tactics and their effectiveness.

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Definitions:

Federal Level

Pertaining to the national government, as opposed to state, local, or municipal levels, dealing with issues that affect the country as a whole.

Property Income

Income derived from the ownership of real estate, financial assets, or intellectual property, including rents, dividends, and interest earnings.

Personal Income

The total earnings received by an individual from all sources before taxes, including wages, dividends, and interest payments.

Property Income

Earnings derived from property ownership, such as rents, interest on loans, and dividends from investments.